Rents down in Brooklyn, but up in Manhattan

Rents down in Brooklyn, but up in Manhattan

Rent is down in Brooklyn. Flickr photo

Brooklyn Daily Eagle

Average rents in Brooklyn fell 5 percent from November to December, according to the New York Post. At the same time, however, average rents in Manhattan rose 1.5 percent, said the Post, quoting a Douglas Elliman survey.

The high cost of Manhattan rent was attributed, in part, to the super-luxury market.

Mark Melendez of Douglas Elliman was quoted as saying that “Brooklyn doesn’t keep the same pace as Manhattan,” and that Brooklyn is “more vulnerable to a slowdown” because of supply and demand.